Consensus Cloud Solutions, Inc. - CCSI STOCK NEWS

Consensus Cloud Solutions (NASDAQ: CCSI) and Olah Healthcare Technology have announced a strategic partnership to modernize data exchange and access to patient health information. This collaboration aims to simplify the transition from outdated legacy systems to modern, cloud-based technology in healthcare.

Key points of the partnership include:

• Olah will help customers migrate from on-premise faxing to Consensus' eFax Corporate® cloud fax platform
• Integration of faxed data into comprehensive data archiving solutions
• Enhanced data management, accessibility, and cost savings for healthcare organizations
• Expanded market reach and new revenue opportunities for both companies

This partnership strengthens Consensus' position in healthcare cloud faxing and offers Olah's customers a streamlined transition to more efficient data retention strategies.

Consensus Cloud Solutions (NASDAQ: CCSI) reported Q2 2024 results with revenues of $87.5 million, down 5.7% year-over-year. Despite the revenue decline, the company saw improvements in profitability metrics. Net income increased 13.4% to $23.9 million, with a net income margin of 27.3%. Adjusted EBITDA rose to $49.1 million with a margin of 56.1%. The company's SoHo business decreased by 15.7%, while the Corporate business grew by 2.7%.

Consensus raised its full-year 2024 Adjusted EPS guidance and reaffirmed revenue and Adjusted EBITDA guidance. The company also made progress in debt reduction, repurchasing nearly $30 million in bonds during Q2 and reducing total debt by approximately $156 million since November 2023.

Consensus Cloud Solutions (NASDAQ: CCSI) celebrates 25 years of providing online fax service as a publicly-traded company. Their flagship product, eFax, has evolved from a simple online fax service to a comprehensive digital communication cloud. Key milestones include:

- 1999: JFAX.com goes public
- 2001: Web interface added to eFax
- 2003: eFax Corporate launched
- 2004: Patent granted for internet fax technology
- 2010: Mobile apps introduced
- 2019: HITRUST certification received
- 2021: Consensus Cloud Solutions spins off from J2 Global
- 2022: Partnership with Cognosante for federal enterprise cloud fax services

eFax now incorporates AI, NLP, and large language models for data extraction, advanced e-signatures, and other cutting-edge features. CEO Scott Turicchi emphasizes the company's commitment to innovation and leadership in secure document exchange.

Consensus Cloud Solutions (NASDAQ: CCSI) will host its Q2 earnings call on August 8th, 2024, at 2:00 PM PT/5:00 PM ET. The call will feature presentations from CEO Scott Turicchi, CRO Johnny Hecker, and CFO Jim Malone, covering the company's financial results and business updates. A live Q&A session will follow the presentations. Interested parties can access the Webcast at https://www.webcaster4.com/Webcast/Page/2779/50804 or dial in at (833) 492-0037 [U.S.] or +1(973) 528-0159 [International]. Questions can be submitted via email to investor@consensus.com before or during the Webcast. Archived materials will be available at https://www.investor.consensus.com/.

Consensus Cloud Solutions (NASDAQ: CCSI), a leader in digital cloud fax technology, has been awarded the 2024 CSO Award by Foundry's CSO. This honor recognizes the company's Compliance 365 security project for its exceptional business value and thought leadership in security initiatives. Chief Technology Officer Jeffrey Sullivan lauded the team’s dedication to innovation and excellence in cybersecurity. This award follows other significant achievements, including eFax Corporate® and jSign® earning HITRUST r2 certification, SOC 2 Type II certification, PCI-DSS compliance, and HIPAA compliance. The CSO Awards ceremony will be held on October 21-23, 2024, at We-Ko-Pa Casino & Resort in Fort McDowell, Arizona.

Consensus Cloud Solutions' CTO, Jeffrey Sullivan, has been elected Chair of DirectTrust's Interoperable Secure Cloud Fax Consensus Body. The group aims to create a new ANSI standard to enhance fax protocols, facilitating seamless integration with healthcare systems. Sullivan’s election acknowledges his expertise in healthcare technology and secure data exchange. DirectTrust, a non-profit organization, initiated this effort to improve interoperability without disrupting existing infrastructure. Sullivan's leadership is expected to drive the development of standards that will enhance healthcare information exchange.

Consensus Cloud Solutions (NASDAQ: CCSI) is set to participate in the Goldman Sachs 45th Annual Global Healthcare Conference on June 13, 2024. The event will be held at the Loews Miami Beach Hotel, and CCSI's presentation is scheduled for 8:00 AM EDT. A webcast of the presentation will be available online.

Consensus Cloud Solutions (NASDAQ: CCSI) announces its participation in the Jefferies Global Healthcare Conference on June 5th, 2024, at the Marriott Marquis in New York City. The company will present from 9:30-9:55 AM ET, providing stakeholders an opportunity to hear about its latest developments and strategies. A webcast of the presentation will be available online for those unable to attend in person.

Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) reported strong financial results for Q1 2024, with record GAAP net income/EPS and non-GAAP net income/non-GAAP EPS. Despite a decrease in revenues, the company achieved a 54.5% EBITDA margin and a 21% increase in free cash flow year over year. Debt repurchase program lowered net debt-to-EBITDA ratio to 3.2. Adjusted EBITDA, non-GAAP net income, and non-GAAP EPS all showed significant growth compared to Q1 2023. The company reaffirmed its full-year 2024 guidance and provided guidance for Q2 2024.